Wabco Holdings Inc. (WBC) Earns “Market Outperform” Rating from Avondale Partners
Wabco Holdings Inc. (NYSE:WBC)‘s stock had its “market outperform” rating reissued by investment analysts at Avondale Partners in a note issued to investors on Monday.
Several other research firms have also recently issued reports on WBC. Credit Agricole SA assumed coverage on shares of Wabco Holdings in a research report on Friday, September 30th. They set an “outperform” rating and a $125.00 price objective for the company. Barclays PLC boosted their price target on shares of Wabco Holdings from $103.00 to $107.00 and gave the company an “equal weight” rating in a research report on Wednesday. Deutsche Bank AG boosted their price target on shares of Wabco Holdings from $113.00 to $114.00 and gave the company a “hold” rating in a research report on Wednesday. Zacks Investment Research raised shares of Wabco Holdings from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a research report on Wednesday, September 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Wabco Holdings from $109.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 15th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $117.92.
Wabco Holdings (NYSE:WBC) traded down 0.91% during mid-day trading on Monday, reaching $109.45. The company’s stock had a trading volume of 175,813 shares. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 31.49 and a beta of 2.04. The company’s 50-day moving average price is $108.49 and its 200 day moving average price is $104.40. Wabco Holdings has a 52 week low of $81.66 and a 52 week high of $115.80.
Wabco Holdings (NYSE:WBC) last released its quarterly earnings data on Wednesday, July 20th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.03. The business earned $732.20 million during the quarter, compared to analysts’ expectations of $706.60 million. Wabco Holdings had a net margin of 7.28% and a return on equity of 39.45%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.40 EPS. On average, equities analysts forecast that Wabco Holdings will post $5.73 earnings per share for the current fiscal year.
In other Wabco Holdings news, insider Nick Rens sold 600 shares of the company’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $101.19, for a total transaction of $60,714.00. Following the transaction, the insider now directly owns 9,665 shares in the company, valued at $978,001.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.79% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of WBC. Lodge Hill Capital LLC bought a new position in shares of Wabco Holdings during the second quarter valued at $35,712,000. Bank of Montreal Can bought a new position in shares of Wabco Holdings during the second quarter valued at $22,661,000. Harding Loevner LP bought a new position in shares of Wabco Holdings during the third quarter valued at $26,395,000. TimesSquare Capital Management LLC raised its position in shares of Wabco Holdings by 18.3% in the second quarter. TimesSquare Capital Management LLC now owns 1,285,425 shares of the company’s stock valued at $117,706,000 after buying an additional 198,725 shares during the last quarter. Finally, BlackRock Advisors LLC raised its position in shares of Wabco Holdings by 91.5% in the second quarter. BlackRock Advisors LLC now owns 400,215 shares of the company’s stock valued at $36,648,000 after buying an additional 191,201 shares during the last quarter. Institutional investors own 95.33% of the company’s stock.
Wabco Holdings Company Profile
WABCO Holdings Inc is a supplier of electronic, mechanical, electro-mechanical and aerodynamic products for various manufacturers. The Company engineers, develops, manufactures and sells systems controlling braking, stability, suspension, transmission automation, as well transmission automation and air management systems for commercial vehicles.
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